Tim Draper; Successful American Capital Investor still believes that a single Bitcoin (BTC) will reach $250,000 by 2022. Draper reaffirmed his bitcoin price prediction whilst at the Web Summit conference on November 6th 2018, which was hosted by ‘Jen Wieczner’ a senior writer for Fortune Magazine

Whilst on stage at the Web Summit; Wieczner says to Draper;

You said in 4 years time (2022) that one bitcoin is going to be worth $250,000, which is a 40x return in the span of 4yrs – Do you still stand by that?

Draper replies; “Oh yeah, well of course! because there are, 86 trillion.. this is in political dollars, dollars worth of currency out there in the world. We’re talking about getting to about 5% market share to get to $250,000 dollars, thats seems like a drop in the bucket! and all we really need to do is make is so that bitcoin can be used to buy starbucks coffee, and all of a sudden the world just opens up! and then they say.. “I’ve got this choice, and it’s a very simple choice “. Do I want a currency that I can take from country to country to country?… or do I want one that sticks me in one country or one geographic area and I can’t use it anywhere else?”

Tim Draper also said “We are going to see all sorts of volatility! You know, one bitcoin is still worth one bitcoin.. its’ just that all these other political currencies are going to be very volatile against it as they slowly disappear from our use”. Wieczner then ask’s Tim.. “ Do you still own your 30,000 Bitcoins? “ to which Draper replied “Absolutely.. and more!!” (with a big smile on his face).

Draper was also questioning on stage at the web summit the need for fiat and political currencies, saying;

“We have these political currencies, what’s the point? Why do we even trust currencies which are determined by some weird political party or another?.. I mean, this is very clear if you’re in Nigeria.. or Argentina.. or Venezuela! It’s not as clear here (referring to the US) but it is true.. that central banks basically print money whenever they feel like it, for whatever reason they want, and.. here suddenly some currency that is.. apolitical, totally global, totally open.. it’s easier to use bitcoin to pay for your news or coffee, as soon as it’s easier to do that, then it becomes where you make a choice!”

Tim Draper continues with..

“Do i want a currency which is tied to a political force, or do i want one which is open and decentralize and frictionless and global, its going to be an easy choice, and we need to drive that choice, we need to push for that choice.. and the best way to push for that choice is to go buy a bitcoin, put it on a ledger, feel what its like to have that money in your hand, rather than looking up a big huge bank with all those rich people, walking out with those fancy suits “like.. look at how I’m dressed, right!”.. and they are using your money, and all of a sudden you’re using your money”.

Draper then ended the web summit conference with;

My prediction at $250,000 for 2022 (maybe 2023) for bitcoin to hit $250,000 is absolutely solid!

LET US KNOW YOUR BITCOIN PRICE PREDICTIONS FOR THE NEXT YEAR.. AND FOR 2022?

Write your comments below and we will revisit this post on November 10th 2019, and then again on June 1st 2022 to see who's prediction were closest!

According to eToro senior market analyst Mati Greenspan, bitcoin is in amidst a parabolic bull cycle and is on track to sustain its strong momentum over the medium to long term.

Since January, within less than six months, the bitcoin price has increased by nearly 100 percent against the U.S. dollar.

With a 98% gain year-to-date, bitcoin has outperformed most assets in 2019
(source: coinmarketcap.com)

Still, despite its large short-term rally, Greenspan noted that the dominant cryptocurrency is only at the start of a bigger cycle that may lead to new highs for the asset.

WHY INDUSTRY EXECUTIVES ARE SO OPTIMISTIC IN BITCOIN

In December 2018, the bitcoin price dropped to its lowest yearly point at $3,150. At the time, even though the industry had demonstrated significant progress in improving the infrastructure supporting the asset class, the sentiment around…

World’s third largest cryptocurrency Ripple (XRP) has appreciated up to 31-percent against the US dollar in just two days.

The XRP-to-dollar exchange rate Tuesday established an intraday high towards $0.405, up 25.05% since the market open on Luxembourg-based Bitstamp exchange. The pair dropped as much as 5.05-percent ahead of the European session to neutralize its overbought sentiments, finding interim support at $0.384-level.

RIPPLE (XRP) SURGES 25% IN A DAY | SOURCE: TRADINGVIEW.COM, BITSTAMP

The sentiment was the same across the rest of the cryptocurrency index, with almost all the leading cryptocurrency posting surplus intraday gains. Bitcoin (BTC), for instance, extended its rally action to establish a new 2019 peak towards $8,836.19. Ethereum, EOS, and Bitcoin Cash too recorded double-digit percentage gains on a 24-hour adjusted timeframe.

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Facebook, the largest social media giant, made news after it announced that it would launch its own cryptocurrency, Facebook Coin. It was also rumoured that Facebook was looking out for VC firms to invest in their cryptocurrency project, with the targeted sum being “as much as $1 billion.”

Now, according to an official announcement, Facebook is going to lift its ban on cryptocurrency and blockchain related ads on its platform.

The facebook statement read :

“Starting 5 June, we will update our Prohibited Financial Products and Services Policy to no longer allow ads promoting contracts for difference [CFDs], complex financial products that are often associated with predatory behaviour. These products, due to their complexity, often mislead people.”

Facebook had implemented the ban on cryptocurrency ads and promotional campaigns related to blockchains and ICOs back in January 2018. It was believed that the ban was to tackle concerns…

Craig Wright, a man who, as WIRED wrote about back in 2016, either created Bitcoin or very badly wants someone to believe he did.

Now rumours are swirling through the Bitcoin world that Wright himself is poised to publicly claim—and possibly offer some sort of proof—that he really is Satoshi Nakamoto, the mysterious inventor of Bitcoin. If he does, he’ll have to convince a highly skeptical cryptography community for whom “proof” is a serious word, and one that requires cryptographic levels of certainty.

The suggestion is that Wright, an Australian cryptographer and security professional, has arranged to perform a demonstration for media in London sometime in the next week that’s intended to convince the world he’s bitcoin’s creator.1 Luckily for any legitimate claimant to the Satoshi throne—and for bitcoiners tired of the long succession of unproven candidates and speculation—there are some clear, almost incontrovertible ways for Satoshi Nakamoto to prove himself. When…